Recent home price declines, continued low interest rates and rising rents mean the cost of owning a home is lower, relative to renting, than the historical average pretty much everywhere. But renting remains cheaper in many U.S. cities, according to a new report from commercial real estate company information company CoStar Group. Here are the top 20 metro areas where it's cheaper to rent, starting with No. 20 Houston, where renting is 81 percent of the cost of owning, above the historical level of 65 percent and the "tipping point" (where people have tended to move from renting to buying) of 66 percent. less

Recent home price declines, continued low interest rates and rising rents mean the cost of owning a home is lower, relative to renting, than the historical average pretty much everywhere. But renting remains ... more

Renting is 67 percent of the cost of owning, above the historical level of 49 percent and the tipping point of 52 percent. Here's the house Bill Gates reportedly rented for $600,000 per month when his daughter competed in a 12-week-long equestrian competition in West Palm Beach.

Renting is 56 percent of the cost of owning, above the historical level of 42 percent and the tipping point of 43 percent.

1. East Bay, Calif.:

Renting is 56 percent of the cost of owning, above the historical level of 42 percent and the tipping point of 43 percent.

Photo: Paul Chinn, The Chronicle

1. East Bay, Calif.: Renting is 56 percent of the cost of owning,... Photo-1833411.55857 - SFGate

Image 24 of 25

In case you were wondering, buying is the biggest bargain in Atlanta, where renting costs 53 percent more (153 percent of the cost to buy), above the historical level of 84 percent and the tipping point of 92 percent. Just behind are Cleveland (renting is 45 percent costlier) and Pittsburgh (36 percent more). less

In case you were wondering, buying is the biggest bargain in Atlanta, where renting costs 53 percent more (153 percent of the cost to buy), above the historical level of 84 percent and the tipping point of 92 ... more

Photo: Getty Images

In case you were wondering, buying is the biggest bargain in... Photo-807985.55857 - SFGate